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Financing of GCEL 2021
Data and Analysis for Canada
Overview: Financing of GCEL companies
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This sheet contains the financial data for the Canadian banks and investors that supported the international companies listed on the Global Coal Exit List (GCEL) 2021, as displayed on coalexit.org.

Tab 1. "Banks" contains all loans and underwriting services that Canadian banks provided to the companies listed on the GCEL 2021 between January 2019 and October 2021 (in US$ million).

Tab 2. "
Investors" contains all bond- and shareholdings held by Canadian investors from the companies listed on the GCEL 2021.

Tab 3. “
GCEL Companies” shows all Canadian GCEL companies for which data was found on banks’ financing and underwritings as well as on investments in bonds or shares.

Additional information:
- The GCEL 2021 - Finance Research will be released on 15 February 2022 on https://coalexit.org/finance-data.
- Private banks' lending and underwriting activities to GCEL companies from January 2019 to October 2021 were analyzed.
- Investments (bond- and shareholdings) were analyzed at their most recent filing dates in November 2021.
- The financial data in this document only represents activities that could be identified. Our financial research relied on databases such as Bloomberg and Revinitiv, which only include financial data that the respective institutions file themselves. For banks, such filings usually do not include bilateral lending.
- Financial databases often do not report on the proportions of a given deal that can be attributed to the deal’s participants. In such instances, this research calculated an estimated contribution based on the rules of thumb described in the finance research methodology. (see: https://coalexit.org/finance-data)

Global Coal Exit List 2021: https://coalexit.org/
Financial research conducted by Profundo.
For questions please contact Katrin Ganswindt: katrin@urgewald.org
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Loans and Underwriting to GCEL companies (January 2019 to October 2021, in US$ mln)
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LoansUnderwritingTotal
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All Banks 362,521 1,166,968 1,529,489
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Canadian Banks 25,099 24,599 49,698
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Bond- & Shareholdings in GCEL companies (Nov 2021 most recent filing date, in US$ mln)
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BondholdingShareholdingTotal
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All Investors 228,365 1,000,569 1,228,934
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Canadian Investors 9,844 40,864 50,708
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